Main Street Capital Co. (NYSE:MAIN) has received a consensus recommendation of “Hold” from the seven analysts that are currently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $38.80.
Several research firms have recently issued reports on MAIN. Zacks Investment Research raised Main Street Capital from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Wednesday, November 7th. Raymond James raised Main Street Capital from a “market perform” rating to an “outperform” rating and set a $41.00 target price for the company in a research report on Monday, November 5th. They noted that the move was a valuation call.
NYSE:MAIN traded up $0.21 during trading hours on Wednesday, hitting $37.21. The company had a trading volume of 36,903 shares, compared to its average volume of 203,773. The stock has a market cap of $2.27 billion, a P/E ratio of 15.57 and a beta of 0.95. Main Street Capital has a 52 week low of $31.95 and a 52 week high of $40.77. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.22.
In other news, Chairman Vincent D. Foster purchased 25,869 shares of the business’s stock in a transaction on Friday, November 16th. The stock was acquired at an average cost of $38.66 per share, for a total transaction of $1,000,095.54. Following the purchase, the chairman now directly owns 1,583,565 shares in the company, valued at approximately $61,220,622.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 5.31% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. CX Institutional grew its stake in shares of Main Street Capital by 2,788.0% during the 4th quarter. CX Institutional now owns 5,776 shares of the financial services provider’s stock valued at $195,000 after acquiring an additional 5,576 shares during the period. Good Life Advisors LLC purchased a new position in Main Street Capital in the 3rd quarter worth approximately $204,000. Paloma Partners Management Co purchased a new position in Main Street Capital in the 3rd quarter worth approximately $210,000. Trexquant Investment LP purchased a new position in Main Street Capital in the 3rd quarter worth approximately $211,000. Finally, Comerica Bank purchased a new position in Main Street Capital in the 3rd quarter worth approximately $221,000. Institutional investors and hedge funds own 23.25% of the company’s stock.
Main Street Capital Company Profile
Main Street Capital Corporation is a business development company specializing in long- term equity and debt investments in small and lower middle market companies. The firm focuses on investments in, subordinated loans, private equity, venture debt, mezzanine investments, mature, mid venture, industry consolidation, later stage, late venture, emerging growth, management buyouts, change of control transactions, ownership transitions, recapitalizations, strategic acquisitions, refinancing, business expansion capital, growth financings, family estate planning, and other growth initiatives primarily for later stage businesses.
Further Reading: What are convertible shares?